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BlockNews
Home CRYPTO

Oklahoma Man Pleads Guilty in $9.4 Million Crypto Scam

Michael Juanico by Michael Juanico
January 10, 2025
in CRYPTO
Reading Time: 2 mins read
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  • Travis Ford admitted to wire fraud for running a crypto scheme that raised $9.4 million from 2,800 investors.
  • The DOJ revealed Ford promised 547% annual returns but used investor funds for personal gain.
  • Fraudsters are shifting from Ponzi schemes to “pig butchering” scams involving trust and manipulation.

Travis Ford, a 35-year-old from Oklahoma, admitted guilt to a conspiracy to commit wire fraud charge, according to the U.S. Department of Justice (DOJ). His case revolves around Wolf Capital Crypto Trading LLC, a so-called investment firm he co-founded and ran as CEO and head trader.

JUST IN: 🇺🇸 Oklahoma man pleads guilty to wire fraud conspiracy charges in connection with a $9.4 million cryptocurrency scam

— BlockNews (@blocknewsdotcom) January 10, 2025

Between January and August 2023, Ford raised $9.4 million from around 2,800 investors, luring them in with flashy social media posts, promotions, and bold claims on the company’s website. Ford promised daily returns of 1-2%—a staggering 547% annually.

Fraudulent Promises and Investor Losses

According to the DOJ, Ford used false promises to convince individuals to invest, only to divert funds for personal gain and that of his co-conspirators. The investors? They were left to bear the losses.

tulsaworld.com

While schemes like this one—built on promises of wealth—aren’t new in the crypto space, fraudsters are evolving. The DOJ notes that many bad actors are moving to “pig butchering” scams. In these scams, con artists build trust or fake romantic relationships before swindling victims out of large sums of money.

Final Thoughts

Ford’s guilty plea shines a light on the ongoing risks in the cryptocurrency industry. As crypto grows, so does the sophistication of scams targeting unsuspecting investors. Staying informed and cautious remains key to navigating this rapidly evolving space.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: cryptoDOJOklahomaTravis FordWolf Capital Crypto Trading LLC
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Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

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